Novo Nordisk's US-listed stock experienced a decline on Monday following the release of the latest trial results for its investigational weight loss drug, CagriSema. The Danish pharmaceutical giant's new candidate yielded a notable weight loss of 15.7% after 68 weeks of treatment, compared to just 3.1% in the placebo group, as indicated by a comprehensive phase 3 study involving 1,206 patients.
Despite these promising results, the findings fell short of the company's previously set target of 25% weight loss, which had been a focal point during an earnings call last November. Earlier in December, Novo Nordisk announced that participants in the initial phase 3 trial had achieved a weight reduction of 22.7%.
CagriSema represents a fixed-dose combination of two significant components: semaglutide, the main ingredient of Novo's successful Wegovy obesity drug, and cagrilintide, which functions as an amylin analog. The disappointing stock reaction came as shares on the New York Stock Exchange plummeted by 8.8% during trading on Monday.
The company disclosed that the recent trial met its primary endpoint, with CagriSema exhibiting "a statistically significant and superior weight loss" when compared to the placebo control group. Furthermore, participants showed a favorable safety profile, primarily experiencing gastrointestinal side effects, as confirmed by Novo Nordisk officials.
Martin Holst Lange, executive vice president for development at Novo Nordisk, expressed optimism regarding the results: "The Redefine 2 results confirmed the superior efficacy of CagriSema in individuals dealing with overweight or obesity and type 2 diabetes," he stated. Looking ahead, Novo Nordisk plans to submit their application for regulatory approval of the drug within the first quarter of 2026, with hopes of providing this next-generation therapy to millions of patients needing effective weight loss solutions..